Thermal Power Plant Genelba (‘CTGEBA’)

CTGEBA is located in Marcos Paz, in the Province of Buenos Aires. The plant began operating in 1999 and has a combined cycle with a 674 MW installed capacity, which consists of two gas turbines of 219 MW each and a 236 MW steam turbine. On the same lot, a gas turbine with a 169 MW power capacity, known as Genelba Plus, was commissioned for service in 2009 and is currently under expansion. The total installed capacity of the CTGEBA complex amounts to 843 MW, which represents 2.3% of Argentina’s installed capacity. From 2000 to 2017, CTGEBA’s average annual generation was 4,714 GWh, with a generation record high of 5,449 GWh in 2012, and a record low of 3,438 GWh in 2001.

CTGEBA has a strategic location, since it is one kilometer from the Ezeiza transforming substation, a WEM (‘Wholesale Electricity Market’) reference node for the supply of electricity to the country’s highest demand. CTGEBA’s combined cycle participates in the spot market, whereas the Genelba Plus gas turbine participates in the Energía Plus market.

The following chart shows certain relevant statistical data on CTGEBA:

2016(1)

2017

Net Generation (GWh)

2,211

4,685

Purchases of Energy (GWh)

288

727

Total Energy Sales (GWh)

2,499

5,412

Average Price (US$/MWh)

34

39

Average Gross Profit (US$/MWh)

11

15

Note: Gross Margin before depreciation and amortization. AR$/US$ exchange rate: 2016 – 14.78; 2017 – 16.57. (1)Volumes as from the closing of the acquisition of former Petrobras Argentina in August 2016.